NC S402

Amends the definition of commercial real estate in G.S. 44A-24.2 under the commercial real estate broker lien act.

Modifies the primary use category to include "and/or" residential purposes involving five or more dwelling units, expanding the definition to clarify residential mixed-use properties.

Maintains existing criteria allowing properties that may lawfully be used for commercial purposes under zoning ordinances or that are subject to pending zoning amendment applications.

Preserves the "good faith intent" provision allowing properties intended for commercial use by contracting parties to qualify as commercial real estate.

Effective upon enactment into law.